S02E06 James Crotty - M&A Lawyer - The 8 Steps to a Successful Business Sale and Exit.
03/10/23 • 99 min
One of the original ideas behind the podcast was to create a repository of essential insights, experiences, and information. A knowledge hub that you can dip in and out of whenever you needed to be reminded of key issues throughout your business journey.
One thing is certain and that is that you’ll need to work with a lawyer at some point, and judging from conversations I’ve had with previous guests, understanding the role of a corporate lawyer, and finding a good one is a vital part of the process.
I’ve known today’s guest, James Crotty of Foot Anstey for a few years. I worked with him on a transaction where I was buying another wealth planning business a couple of years ago.
I got to know James and his team and found them to be supremely professional, of course, but equally as important, they were very human and recognized the emotional strain that owners are under as a transaction proceeds.
So, I was keen to get him on the podcast to share his experience and his wisdom.
What we have is a masterclass covering all the legal aspects involved in selling your businesses, - from before there’s even a deal on the table, right through to well after the sale has concluded and you're on to your next adventure.
James reveals his 8-step process, breaks it down in detail and outlines what to expect and how to prepare for the experience.
Towards the end, he explains a new service that he’s recently launched that, I believe every business owner who thinks they may sell at some point should look at.
The episode is a bit longer than the others, but there’s a lot involved in the legal process.
Exploring the essential legal information, you need to know before selling a business, ladies, and gentlemen I give you Mr. James Crotty.
Links:
https://www.footanstey.com/our-people/james-crotty/
https://uk.linkedin.com/in/james-crotty-0b8a5062
This podcast is produced by GR Media
Sponsored by Capital Asset Management
One of the original ideas behind the podcast was to create a repository of essential insights, experiences, and information. A knowledge hub that you can dip in and out of whenever you needed to be reminded of key issues throughout your business journey.
One thing is certain and that is that you’ll need to work with a lawyer at some point, and judging from conversations I’ve had with previous guests, understanding the role of a corporate lawyer, and finding a good one is a vital part of the process.
I’ve known today’s guest, James Crotty of Foot Anstey for a few years. I worked with him on a transaction where I was buying another wealth planning business a couple of years ago.
I got to know James and his team and found them to be supremely professional, of course, but equally as important, they were very human and recognized the emotional strain that owners are under as a transaction proceeds.
So, I was keen to get him on the podcast to share his experience and his wisdom.
What we have is a masterclass covering all the legal aspects involved in selling your businesses, - from before there’s even a deal on the table, right through to well after the sale has concluded and you're on to your next adventure.
James reveals his 8-step process, breaks it down in detail and outlines what to expect and how to prepare for the experience.
Towards the end, he explains a new service that he’s recently launched that, I believe every business owner who thinks they may sell at some point should look at.
The episode is a bit longer than the others, but there’s a lot involved in the legal process.
Exploring the essential legal information, you need to know before selling a business, ladies, and gentlemen I give you Mr. James Crotty.
Links:
https://www.footanstey.com/our-people/james-crotty/
https://uk.linkedin.com/in/james-crotty-0b8a5062
This podcast is produced by GR Media
Sponsored by Capital Asset Management
Previous Episode
S02E05 - The Secret Accountant - How Do You Really Sell Your Business?
I’ve been following an anonymous account on Twitter for some time, and I’ve really enjoyed a lot of the content and thoughts shared on some of my favourite topics such as entrepreneurship, mergers & acquisitions, and intelligent investing.
The Twitter handle is an anonymous one - The Secret Accountant, but I can now officially reveal the identity of this mysterious business expert as being none other than Mr Craig Richardson.
There’s a good reason for the nom de plume which he explains during our conversation, but the headline relates to a new book that he recently published called "How Do You Really Sell Your Business" - which is obviously right in the sweet spot for you if you’re a bulletproof entrepreneur and a fan of this podcast.
And the good news is that to celebrate this episode, Craig AKA The Secret Accountant has slashed the price it sells for on Amazon for the next few weeks!
So, as soon as you’ve listened to this episode, jump over to Amazon, and grab your copy - the link is in the show notes.
Now Craig’s got an incredibly interesting back story. He’s been a poacher turned gamekeeper turned poacher again and is reluctant to call himself an entrepreneur – he says that if indeed he is an entrepreneur, he’s an accidental one!
He started by qualifying as a chartered accountant in the corporate finance team at KPMG and it was there that he caught the bug of working with founder owners. He just loved helping them grow their companies and plan a successful sale and exit.
But then came a change of strategy at KPMG and their desire to focus on bigger corporate clients. So, Craig decided to leave to be able to continue to work with SME business owners, which is where his passion always was.
Since then, he’s spent more than 20 years helping entrepreneurs successfully grow, improve, and sell their businesses and now runs his own company where he continues to advise, consult, and invest in companies and their owners.
I found it fascinating listening to him explain that the skills required to take a company from £1m to £5m turnover are different to those needed to take a company from £5m to £10m and then to £20m and above - some great insights wherever you are on that scale.
He also talks of the importance of what he calls the magical entrepreneurial dust that only a founder is capable of sprinkling over his company and why they should focus on this more than some of the more regular day-to-day roles
And as someone who's worked with business owners and continues to support them, he breaks down the key attributes which are essential in an ideal ‘Trusted Adviser’ relationship which is designed specifically for entrepreneurs.
Ladies and gentlemen, I give you Craig Richardson AKA The Secret Accountant
Links
The Secret Accountant (@TheSecretAcct) / Twitter
Craig Richardson - Non Executive Director - BIL Group | LinkedIn
How do you really sell your business - Book offer
This podcast is produced by GR Media
Sponsored by Capital Asset Management
Next Episode
S02E07 Henry Dimbleby MBE - The fast food entrepreneur who sold Leon for £100m
Henry is the co-founder of the fast-food restaurant chain Leon with the unforgettable strapline ‘If God did fast food..’
From humble beginnings, with one small shop in Carnaby Street in London to a national and international brand which eventually sold for a reported £100 million Henry is undoubtedly a bulletproof entrepreneur.
During our conversation, he explained:
- How they came up with the memorable name Leon and the vital importance of getting your business name right from the outset.
- What he believes to be the two most important attributes that any entrepreneur must have to succeed .
- The value of narrative and storytelling to help grow your media presence and generate new customers.
And as we were wrapping up the conversation, Henry provided us with one of the best definitions I've ever heard of what True Wealth really is.
His new book, "Ravenous," has just been published and is a seriously good read if you're interested in learning about our food system and how to optimise for maximum energy - something that every entrepreneur needs to do.Links
Ravenous: How to get ourselves and our planet into shape
Billionaire Issa brothers buy Leon for £100m | Evening Standard
This podcast is produced by GR Media
Sponsored by Capital Asset Management
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